DWP Investment Management is a Registered Investment Adviser (RIA) with the Texas State Securities Board. We manage taxable and tax-deferred accounts for individuals and families.
Investment Manager vs. Brokers
As a Registered Investment Adviser, we hold a fiduciary relationship with each client. Simply put, this means we are legally held to the highest standard of care - making investment decisions for the sole benefit and interest of our clients.
Conversely, broker-dealers are simply required to make suitable recommendations to their clients. Instead of having to place his or her interests below that of the client, the suitability standard only details that a broker-dealer has to reasonably believe that recommendations are suitable for clients. A broker's duty is to the broker-dealer he or she works for, not necessarily the client served.
Daniel W. Payne, CFA
Daniel Payne has been in investment management for more than 15 years, both as an independent adviser and as a portfolio manager for Bank of America’s Private Bank (U.S. Trust), where he managed over $500 million in private client assets. Additional experience includes corporate development, corporate venture investments, and investment banking.
Daniel received his M.B.A. from the Darden School of Business at the University of Virginia and his B.B.A. from Austin College. He is a CFA charterholder and a member of the CFA Society of Austin and the CFA Institute.
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